Hana Financial Group Achieves Record First-Half Net Profit of 2.4 Trillion Won

Hana Financial Group has announced a record-breaking performance for the first half of the year, achieving a net profit of 2.4029 trillion won. This figure represents a 4.4% increase compared to the same period last year, setting a new semi-annual record for the group.

The group's core profit, which includes interest and fee income, reached 6.2956 trillion won, an increase of 13% from the previous year. A substantial contributor to this growth was the fee income, which surged by 37.7% to 1.4874 trillion won. Hana Financial attributed this success to the diversification of its revenue streams, including increased fees from wealth management services such as trusts, securities brokerage, and investment management, as well as expanded income from underwriting and advisory services bolstered by a strong investment banking portfolio.

Key subsidiaries also demonstrated robust performance. Hana Bank, the group's main banking arm, posted a consolidated net profit of 2.1211 trillion won for the first half, up 1.7% year-over-year. Although the bank incurred one-off expenses, including 74.9 billion won in provisions related to the corporate rehabilitation filing of the Joongang Group and 109.8 billion won in foreign exchange losses due to currency appreciation, its core business segments, asset management, retirement pensions, trusts, and foreign exchange, compensated for these costs.

Hana Securities experienced a remarkable surge in its net profit, soaring by 155.7% to 273.1 billion won in the first half. This significant growth was driven by increased trading volumes and brokerage fee income resulting from a more active stock market. Other subsidiaries also contributed positively, with Hana Card reporting a net profit of 125.9 billion won, Hana Capital 104.5 billion won, and Hana Life Insurance 14.6 billion won for the first half of the year.